Recent Buy: MO (Altria Group)

Recent Buy: 8/7/17
Today, I purchased 23 shares of MO (Altria Group) for $65.73/share or $1,151.84 in total capital. I had 0 shares of MO prior to this purchase. This increases my forward dividends by $56.12/year.

The reason for this purchase was a recent sell-off due to uneasiness in the markets because of a potential vote to limit the amount of nicotine in cigarettes produced in the USA to “non-addictive” levels. This feels like a market over-reaction. The recent drop brings the stock to -1.65% off it’s 52-week lows. This seemed like a good entry point.

Warren Buffett once said, “I’ll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It’s addictive; and there’s fantastic brand loyalty.”